Permanent Capital Management, LP
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 12, 2026), Permanent Capital Management, LP reported 211 stock positions worth $746.7 million. Its top holding was Vanguard Tot World STK ETF (VT) at 24.4% of the portfolio, followed by Vanguard S&P 500 ETF (VOO, 23.3%) and iShares Core U.S. Aggregate (AGG, 8.6%). Compared with Q1 2026, it opened 66 new positions, sold out of 10, added to 49 and reduced 38. The biggest buy was Vanguard Tot World STK ETF (VT, shares +80%) and the biggest sale Invesco S&P 500 Equal Weight (RSP, shares −92%).
- Most Recent 13F
- Q2 2026
- Location
- CHICAGO, IL
- CIK
- 0002054108
- Portfolio Value
- $746.7M (Q2 2026)
- SEC Filing
- 0001951757-26-001242 ↗ filed Aug 12, 2026
Holdings Value
Holdings 211 stocks · $746.7M
| VT Vanguard Tot World STK ETF | 24.39% | 1,160,445 | $182.1M | Add +80.4% |
| VOO Vanguard S&P 500 ETF | 23.29% | 253,227 | $173.9M | Add +2.7% |
| AGG iShares Core U.S. Aggregate | 8.64% | 651,553 | $64.5M | Add +0.6% |
| VEA Vanguard Ftse Developed ETF | 6.44% | 675,379 | $48.1M | Add +1.0% |
| VGIT Vanguard Intermediate-Term T | 4.75% | 600,884 | $35.4M | Add +0.8% |
| MSFT Microsoft Corp. | 3.65% | 73,008 | $27.2M | Add +0.5% |
| VWO Vanguard Ftse Emerging Marke | 2.34% | 292,236 | $17.4M | Reduce -0.0% |
| USFR Wisdomtree Floating Rate Tre | 1.88% | 278,781 | $14.0M | Add +1.4% |
| VTI VG Morningstar TS MKT ETF-US | 1.26% | 25,411 | $9.4M | Add +17.4% |
| ACWI iShares MSCI Acwi ETF | 1.15% | 54,862 | $8.6M | No change |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | 0.98% | 278,085 | $7.3M | Reduce -1.4% |
| CAT Caterpillar Inc. | 0.78% | 5,465 | $5.8M | Reduce -2.7% |
| NVDA Nvidia Corp. | 0.62% | 23,070 | $4.6M | Add +0.2% |
| IWF iShares Russell 1000 Growth | 0.58% | 35,109 | $4.4M | Reduce -75.0% |
| AAPL Apple Inc. | 0.56% | 14,538 | $4.2M | Add +0.5% |
| AUR Aurora Innovation Inc. | 0.55% | 603,200 | $4.1M | Reduce -55.0% |
| AMZN Amazon.com Inc. | 0.53% | 16,652 | $4.0M | Reduce -0.1% |
| EQTY Kovitz Core Equity ETF | 0.52% | 138,184 | $3.9M | New |
| GOOGL Alphabet Inc. Class A | 0.48% | 10,023 | $3.6M | Reduce -1.2% |
| UBS UBS Group AG-Reg | 0.43% | 64,477 | $3.2M | No change |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.42% | 4,185 | $3.1M | No change |
| BNY Bank of New York Mellon Corp. | 0.40% | 20,794 | $3.0M | No change |
| GLD SPDR Gold Shares | 0.40% | 8,157 | $3.0M | No change |
| EXE Expand Energy Corp. | 0.33% | 26,635 | $2.4M | Add +18.9% |
| KMB Kimberly-Clark Corp. | 0.31% | 20,522 | $2.3M | Reduce -15.5% |
| DGX Quest Diagnostics Inc. | 0.30% | 10,706 | $2.3M | Add +171.3% |
| CDZI Cadiz Inc. | 0.30% | 537,680 | $2.2M | Add +13.4% |
| UNP Union Pacific Corp. | 0.29% | 7,913 | $2.2M | No change |
| GOOG Alphabet Inc. Class C | 0.28% | 5,939 | $2.1M | Reduce -1.2% |
| RSP Invesco S&P 500 Equal Weight | 0.25% | 8,945 | $1.9M | Reduce -92.0% |
| OI O-I Glass Inc. | 0.24% | 186,778 | $1.8M | Add +135.2% |
| L Loews Corp. | 0.23% | 15,454 | $1.7M | Reduce -0.0% |
| ALK Alaska Air Group Inc. | 0.23% | 33,099 | $1.7M | Add +85.6% |
| AVGO Broadcom Inc. | 0.21% | 4,072 | $1.5M | Add +3.9% |
| JNJ Johnson & Johnson | 0.21% | 6,055 | $1.5M | Add +4.6% |
| GLNG Golar LNG Ltd. | 0.19% | 28,796 | $1.4M | No change |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.19% | 6,480 | $1.4M | Add +476.0% |
| COF Capital One Financial Corp. | 0.18% | 6,859 | $1.4M | No change |
| MGM MGM Resorts International | 0.18% | 28,463 | $1.4M | Reduce -11.2% |
| META Meta Platforms Inc. Class A | 0.18% | 2,410 | $1.4M | Add +4.3% |
| TECK Teck Resources Ltd.-CLS B | 0.17% | 21,526 | $1.3M | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.16% | 4,298 | $1.2M | Add +133.7% |
| IWM iShares Russell 2000 ETF | 0.16% | 4,007 | $1.2M | Reduce -4.6% |
| VXUS Vanguard Total Intl Stock | 0.16% | 13,986 | $1.2M | Add +74.6% |
| WMT Walmart Inc. | 0.16% | 10,383 | $1.2M | Add +0.1% |
| HZO Marinemax Inc. | 0.15% | 31,474 | $1.2M | Reduce -1.3% |
| OEF iShares S&P 100 ETF | 0.15% | 3,149 | $1.2M | New |
| AXS Axis Capital Holdings Ltd. | 0.15% | 10,053 | $1.1M | No change |
| UL Unilever PLC-Sponsored ADR | 0.14% | 17,648 | $1.1M | Add +0.0% |
| NTRS Northern Trust Corp. | 0.14% | 6,011 | $1.0M | No change |
| QQQ Invesco QQQ Trust Series 1 | 0.14% | 1,423 | $1.0M | No change |
| JPM JPMorgan Chase & Co. | 0.14% | 3,158 | $1.0M | No change |
| KO The Coca-Cola Co. | 0.13% | 12,263 | $1.0M | No change |
| GM General Motors Co. | 0.13% | 12,652 | $975K | Add +0.0% |
| AIG American International Group | 0.13% | 12,868 | $959K | Reduce -0.0% |
| DE Deere & Co. | 0.13% | 1,479 | $941K | Reduce -0.1% |
| COST Costco Wholesale Corp. | 0.12% | 990 | $926K | Add +9.2% |
| ABBV Abbvie Inc. | 0.12% | 3,622 | $911K | No change |
| BC Brunswick Corp. | 0.12% | 10,730 | $904K | No change |
| AMAT Applied Materials Inc. | 0.12% | 1,233 | $891K | No change |
| BA The Boeing Co. | 0.12% | 4,021 | $870K | Add +0.0% |
| C Citigroup Inc. | 0.12% | 6,160 | $862K | No change |
| HHH Howard Hughes Holdings Inc. | 0.11% | 12,000 | $858K | New |
| QXO Qxo Inc. | 0.11% | 49,526 | $856K | New |
| INTC Intel Corp. | 0.11% | 6,032 | $842K | Add +66.0% |
| CAH Cardinal Health Inc. | 0.11% | 3,418 | $812K | Add +57.3% |
| KBWB Invesco KBW Bank ETF | 0.11% | 8,726 | $811K | Reduce -0.0% |
| PLD Prologis Inc. | 0.11% | 5,892 | $798K | No change |
| LIF LIFE360 Inc. | 0.11% | 14,328 | $793K | No change |
| HON Honeywell International Inc. | 0.10% | 3,445 | $771K | New |
| PCG P G & E Corp. | 0.10% | 45,577 | $768K | Reduce -32.0% |
| HONA Honeywell Aerospace Inc. | 0.10% | 3,445 | $762K | New |
| PRMB Primo Brands Corp. | 0.10% | 30,675 | $750K | No change |
| IMRX Immuneering Corp. Class A | 0.10% | 150,000 | $749K | New |
| GLW Corning Inc. | 0.10% | 2,896 | $740K | Add +64.5% |
| BWXT BWX Technologies Inc. | 0.10% | 3,789 | $738K | Reduce -3.8% |
| VZ Verizon Communications Inc. | 0.10% | 16,746 | $709K | Add +9.3% |
| XOM Exxon Mobil Corp. | 0.09% | 5,177 | $708K | Reduce -0.2% |
| EFA iShares MSCI Eafe ETF | 0.09% | 6,648 | $691K | No change |
| NEE Nextera Energy Inc. | 0.09% | 7,810 | $685K | No change |
| BP BP PLC-Spons ADR | 0.09% | 18,429 | $681K | Add +0.0% |
| BAC Bank of America Corp. | 0.09% | 11,929 | $680K | No change |
| V Visa Inc. Class A | 0.09% | 1,913 | $656K | Reduce -16.7% |
| NWSA News Corp. Class A | 0.09% | 26,361 | $655K | No change |
| LLY Eli Lilly & Co. | 0.09% | 544 | $652K | Add +0.2% |
| BDX Becton Dickinson and Co. | 0.09% | 4,277 | $647K | Reduce -8.9% |
| TSLA Tesla Inc. | 0.09% | 1,525 | $641K | Add +72.7% |
| BFLY Butterfly Network Inc. | 0.08% | 75,000 | $632K | No change |
| PGR Progressive Corp. | 0.08% | 2,888 | $631K | No change |
| MU Micron Technology Inc. | 0.08% | 542 | $626K | New |
| SW Smurfit Westrock PLC | 0.07% | 12,061 | $558K | New |
| FRMI Fermi Inc. | 0.07% | 60,000 | $550K | No change |
| DGRW Wisdomtree U.S. Quality Divi | 0.07% | 5,745 | $549K | New |
| MRSH Marsh & McLennan Cos | 0.07% | 3,252 | $542K | No change |
| VGT Vanguard Info Tech ETF | 0.07% | 4,458 | $533K | New |
| LRCX Lam Research Corp. | 0.07% | 1,227 | $532K | Add +19.1% |
| DFIV Dimensional International Va | 0.07% | 9,670 | $522K | New |
| AMD Advanced Micro Devices | 0.07% | 846 | $491K | New |
| WAT Waters Corp. | 0.07% | 1,308 | $491K | Reduce -4.5% |
| TSM Taiwan Semiconductor-SP ADR | 0.07% | 1,015 | $485K | Add +5.1% |
Portfolio Sells Q1 2026 → Q2 2026
| RSP Invesco S&P 500 Equal Weight | Reduce -92.0% | 0.25% | −3.30 |
| AUR Aurora Innovation Inc. | Reduce -55.0% | 0.55% | −0.67 |
| VB Vanguard Most SM-Cap ETF-Usd | Sold out | 0.00% | −0.61 |
| VWO Vanguard Ftse Emerging Marke | Reduce -0.0% | 2.34% | −0.34 |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | Reduce -1.4% | 0.98% | −0.16 |
| AMZN Amazon.com Inc. | Reduce -0.1% | 0.53% | −0.16 |
| GOOGL Alphabet Inc. Class A | Reduce -1.2% | 0.48% | −0.13 |
| NOW ServiceNow Inc. | Reduce -57.5% | 0.06% | −0.08 |
| GOOG Alphabet Inc. Class C | Reduce -1.2% | 0.28% | −0.08 |
| SLG SL Green Realty Corp. | Reduce -71.2% | 0.03% | −0.07 |
| PCG P G & E Corp. | Reduce -32.0% | 0.10% | −0.07 |
| IWF iShares Russell 1000 Growth | Reduce -75.0% | 0.58% | −0.07 |
| KMB Kimberly-Clark Corp. | Reduce -15.5% | 0.31% | −0.07 |
| FDVV Fidelity High Dividend ETF | Sold out | 0.00% | −0.07 |
| MTN Vail Resorts Inc. | Sold out | 0.00% | −0.06 |
| FBND Fidelity Total Bond ETF | Sold out | 0.00% | −0.06 |
| CRH CRH PLC | Sold out | 0.00% | −0.05 |
| ISRG Intuitive Surgical Inc. | Sold out | 0.00% | −0.05 |
| QUAL iShares MSCI USA Quality Fac | Sold out | 0.00% | −0.04 |
| JBS JBS NV-A | Reduce -34.0% | 0.03% | −0.04 |
| BN Brookfield Corp. | Sold out | 0.00% | −0.04 |
| TMO Thermo Fisher Scientific Inc. | Sold out | 0.00% | −0.04 |
| L Loews Corp. | Reduce -0.0% | 0.23% | −0.04 |
| BWXT BWX Technologies Inc. | Reduce -3.8% | 0.10% | −0.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -27.9% | 0.06% | −0.03 |
| V Visa Inc. Class A | Reduce -16.7% | 0.09% | −0.03 |
| XOM Exxon Mobil Corp. | Reduce -0.2% | 0.09% | −0.03 |
| GBDC Golub Capital BDC Inc. | Sold out | 0.00% | −0.03 |
| ISHG iShares -3 Year Internationa | Reduce -23.8% | 0.04% | −0.02 |
| ICE Intercontinental Exchange Inc. | Reduce -17.6% | 0.03% | −0.02 |
| PSLV Sprott Physical Silver Trust | Reduce -6.0% | 0.04% | −0.02 |
| BDX Becton Dickinson and Co. | Reduce -8.9% | 0.09% | −0.02 |
| AIG American International Group | Reduce -0.0% | 0.13% | −0.02 |
| IWM iShares Russell 2000 ETF | Reduce -4.6% | 0.16% | −0.02 |
| SPGI S&P Global Inc. | Reduce -4.3% | 0.06% | −0.02 |
| FXI iShares China Large-Cap ETF | Reduce -7.7% | 0.03% | −0.01 |
| HWM Howmet Aerospace Inc. | Reduce -18.2% | 0.04% | −0.01 |
| MGM MGM Resorts International | Reduce -11.2% | 0.18% | −0.01 |
| DE Deere & Co. | Reduce -0.1% | 0.13% | −0.01 |
| KBWB Invesco KBW Bank ETF | Reduce -0.0% | 0.11% | −0.01 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -1.4% | 0.04% | −0.01 |
| SPOT Spotify Technology SA | Reduce -3.9% | 0.03% | −0.01 |
| LYV Live Nation Entertainment Inc. | Reduce -12.0% | 0.03% | −0.00 |
| FTNT Fortinet Inc. | Reduce -41.0% | 0.03% | −0.00 |
| RDDT Reddit Inc. Class A | Reduce -5.3% | 0.05% | −0.00 |
| WAT Waters Corp. | Reduce -4.5% | 0.07% | −0.00 |
| CAT Caterpillar Inc. | Reduce -2.7% | 0.78% | +0.00 |
| HZO Marinemax Inc. | Reduce -1.3% | 0.15% | +0.01 |
Portfolio Buys Q1 2026 → Q2 2026
| VT Vanguard Tot World STK ETF | Add +80.4% | 24.39% | +9.26 |
| EQTY Kovitz Core Equity ETF | New | 0.52% | +0.52 |
| DGX Quest Diagnostics Inc. | Add +171.3% | 0.30% | +0.18 |
| OEF iShares S&P 100 ETF | New | 0.15% | +0.15 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +476.0% | 0.19% | +0.15 |
| OI O-I Glass Inc. | Add +135.2% | 0.24% | +0.13 |
| ALK Alaska Air Group Inc. | Add +85.6% | 0.23% | +0.12 |
| HHH Howard Hughes Holdings Inc. | New | 0.11% | +0.11 |
| QXO Qxo Inc. | New | 0.11% | +0.11 |
| HON Honeywell International Inc. | New | 0.10% | +0.10 |
| HONA Honeywell Aerospace Inc. | New | 0.10% | +0.10 |
| IMRX Immuneering Corp. Class A | New | 0.10% | +0.10 |
| IBM Intl Business Machines Corp. | Add +133.7% | 0.16% | +0.10 |
| MU Micron Technology Inc. | New | 0.08% | +0.08 |
| SW Smurfit Westrock PLC | New | 0.07% | +0.07 |
| DGRW Wisdomtree U.S. Quality Divi | New | 0.07% | +0.07 |
| VGT Vanguard Info Tech ETF | New | 0.07% | +0.07 |
| DFIV Dimensional International Va | New | 0.07% | +0.07 |
| VTI VG Morningstar TS MKT ETF-US | Add +17.4% | 1.26% | +0.07 |
| AMD Advanced Micro Devices | New | 0.07% | +0.07 |
| DRAM Roundhill Memory ETF | New | 0.06% | +0.06 |
| INTC Intel Corp. | Add +66.0% | 0.11% | +0.06 |
| VXUS Vanguard Total Intl Stock | Add +74.6% | 0.16% | +0.06 |
| TKR Timken Co. | New | 0.06% | +0.06 |
| GLW Corning Inc. | Add +64.5% | 0.10% | +0.05 |
| CALM Cal-Maine Foods Inc. | New | 0.05% | +0.05 |
| VUG Vanguard Mrngstar GR ETF-Sui | New | 0.05% | +0.05 |
| SNA Snap-on Inc. | New | 0.05% | +0.05 |
| CTRE Caretrust REIT Inc. | New | 0.05% | +0.05 |
| ORI Old Republic Intl Corp. | New | 0.05% | +0.05 |
| RPM RPM International Inc. | New | 0.05% | +0.05 |
| PRF Invesco Rafi US 1000 ETF | New | 0.05% | +0.05 |
| PANW Palo Alto Networks Inc. | New | 0.05% | +0.05 |
| CSCO Cisco Systems Inc. | New | 0.05% | +0.05 |
| GRMN Garmin Ltd. | New | 0.04% | +0.04 |
| CAH Cardinal Health Inc. | Add +57.3% | 0.11% | +0.04 |
| ESS Essex Property Trust Inc. | New | 0.04% | +0.04 |
| OMC Omnicom Group | New | 0.04% | +0.04 |
| KEY Keycorp | New | 0.04% | +0.04 |
| UGI Ugi Corp. | New | 0.04% | +0.04 |
| DFAI Dimensional International Co. | New | 0.04% | +0.04 |
| SPE Special Opportunities Fund | New | 0.04% | +0.04 |
| LNT Alliant Energy Corp. | New | 0.04% | +0.04 |
| WMB Williams Cos Inc. | New | 0.04% | +0.04 |
| NFG National Fuel Gas Co. | New | 0.04% | +0.04 |
| BKH Black Hills Corp. | New | 0.04% | +0.04 |
| IP International Paper Co. | New | 0.04% | +0.04 |
| IVZ Invesco Ltd. | New | 0.04% | +0.04 |
| TER Teradyne Inc. | New | 0.04% | +0.04 |
| AVUV Avantis US Small Cap Value | New | 0.04% | +0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 211 | $746.7M | VT, VOO, AGG, VEA, VGIT |
| Q1 2026 | 155 | $643.0M | VOO, VT, AGG, VEA, VGIT |
| Q4 2025 | 157 | $513.3M | VOO, RSP, VEA, VGIT, MSFT |
| Q3 2025 | 151 | $534.9M | VOO, VGIT, RSP, VEA, MSFT |
| Q1 2025 | 79 | $348.9M | VOO, VGIT, VEA, RSP, MSFT |
| Q4 2024 | 74 | $323.0M | VGIT, VOO, MSFT, RSP, VEA |
| Q2 2024 | 158 | $478.7M | VOO, VGIT, VEA, RSP, MSFT |